The year to date has seen an increasing number of freehold opportunities come to the market which have generated both investor and occupier interest.
Across all sectors, well located properties brought to the market for sale rather than solely to lease have received offers within just a few weeks. One example that highlights this is the sale of 6 The Potteries in Fareham. Having been marketed to let, little interest was shown in the office unit for several months. Following discussions with the landlord, the decision was reached to market the property for sale. Within a week an offered was received and the deal proceeded to completion.
Private investors recently acquired a popular tenanted public house in Swanmore and a well-located shop in the centre of Petersfield.
The Brickmakers was sold close to the asking price of £600,000 and has a tenant in place until 2030. Located on Church Road, The Brickmakers is the only village centre pub and as such has a loyal clientele. The retail premises in Petersfield occupied by well-known charity Sue Ryder, is prominently situated on the corner of Lavant Street and Chapel Street in the town centre.
In two further transactions, units on the popular Petersfield industrial estate on Bedford Road were bought earlier in the year, both by owner managed businesses, one of which has now let part of their site to another local business thus ensuring ongoing income on their investment.
Commenting on the market, Director Tom Holloway said:
“We have seen a marked increase in the number of freehold transactions across the south coast, particularly this year. Both private investors and owner occupiers, looking to use the property as part of their SIPP, have been more active during 2019 than for some time.
“Equally, if freeholders are considering the sale of a property, we would recommend bringing it to the market now, rather than waiting until early 2020 when the effects of Brexit could stall the market.”